November 28, 2021

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Markets

Allbirds

By Sophia Kunthara,

Direct-to-consumer shoe company Allbirds’ stock closed at $28.64 on Wednesday, nearly 91 percent above its IPO price.

The company raised around $303 million through its IPO after pricing its shares at $15 apiece. Allbirds set an IPO price range of between $12 and $14 per share, and the company’s stock opened Wednesday at $21.21, 41 percent above its IPO price.

As a private company, Allbirds raised more than $202 million from investors including Tiger Global Management and Lerer Hippeau. Most recently, it raised a $100 million Series E in September 2020.

Allbirds’ IPO comes as many other consumer-facing companies hit the public markets. Companies including eyeglass maker Warby...

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